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Original document signed by Egami & Ichikawa CPAs, Inc.

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Original document signed by Egami & Ichikawa CPAs, Inc.

27

STATE OF HAWAII

DEPARTMENT OF ACCOUNTING AND GENERAL SERVICES

STATE PARKING REVOLVING FUND

NOTES TO THE FINANCIAL STATEMENTS (Continued)

JUNE 30, 2010

7. GENERAL OBLIGATION BONDS PAYABLE (Continued)

5.00% General obligation refunding bonds, Series DG, of

$2,283 issued in June 2005 under Act 42, Session Laws of

Hawaii 2004; annual principal payments of $206 beginning

July 1, 2009 and increasing incrementally to $307 through

July 1, 2017; semi-annual interest payments due January 1

and July 1; maturing on July 1 2017. $ 2,077

Total bonds payable 144,418

Less current installments (50,767)

Bonds payable, net of current installments $ 93,651

Debt service requirements to maturity on general obligation bonds payable are as follows:

Years ending June 30: Principal Interest Total

2011 $ 50,767 $ 1,470 $ 52,237

2012 14,774 443 15,217

2013 14,317 312 14,629

2014 15,061 249 15,310

2015 15,843 183 16,026

2016-2018 33,656 161 33,817

$ 144,418 $ 2,818 $ 147,236

8. CHANGES IN NON-CURRENT LIABILITIES

Changes in non-current liabilities were as follows:

Beginning Ending Due within

Balance Increases Decreases Balance one year

Security card deposits $ 27,590 $ - $ - $ 27,590 $ -

Accrued liabilities 275,355 221,340 186,238 310,457 88,009

Due to State of Hawaii 140,962 - - 140,962 -

Net OPEB obligation 244,032 195,191 55,623 383,600 -

General obligation bonds payable 193,425 - 49,007 144,418 50,767

Total non-current liabilities $ 881,364 $ 416,531 $ 290,868 $1,007,027 $ 138,776

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Original document signed by Egami & Ichikawa CPAs, Inc.